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RSM219H1 (136)
Chapter 8

Chapter 8 Notes

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Rotman Commerce
Chris Bovaird

CHAPTER 8 – Managing Human Resources THE FOUNDATIONS OF HUMAN RESOURCE MANAGEMENT  Human resource management (HRM) (or personal) – set of organizational activities directed at attracting, developing, and maintaining an effective workforce The Strategic Importance of HRM  Human resources are critical for effective organizational functioning Human Resource Planning  HR planning involves job analysis and forecasting the demand for and supply of labour  Planning for human resources o Conduct job analysis  Forecast demand for labour  Forecast internal supply of labour & Forecast external supply of labour  Develop plan to match demand with supply Job Analysis – a detailed study of the specific duties in a particular job and the human qualities required for that job  A job analysis is made up for two parts: o The job description lists the duties of a job, its working conditions, and the tools, materials, and equipment used to perform it o The job specification lists the skills, abilities, and other credentials needed to do the job Forecasting HR Demand and Supply  Forecasting the supply of labour involves two tasks: o Forecasting internal supply – the number and type of employees who will be in the firm at some future date o Forecasting external supply – the number and type of people who will be available for hiring from the labour market at large  Replacement chart – an HR technique that lists each important managerial position, who occupies it, how long he or she will probably stay in it before moving on, and who (by name) is now qualified or soon will be qualified to move into it  Employee information systems (skills inventories) – computerized systems that contain information on each employee’s education, skills, work experience, and career aspirations Matching HR Supply and Demand  If a shortfall is predicted o New employees can be hired o Present employees can be retrained and transferred into understaffed areas o Individuals approaching retirement can be convinced to stay on o Labour-saving or productivity-enhancing systems can be installed  If the organization needs to hire o The external labour-supply forecast helps managers plan how to recruit according to whether the type of person needed is readily available or scarce in the labour market o The temporary workers also helps managers in staffing by giving them extra flexibility  If overstaffing is expected to be a problem, the main options are o Not replacing individuals who quit o Encouraging early retirement o Laying people off STAFFING THE ORGANIZATION  We will describe the process of acquiring staff from outside the company (external staffing) and the process of promoting staff from within (internal staffing) Recruiting – the phrase in the staffing of a company in which the firm seeks to develop a pool of interested, qualified applicants for a position  Internal recruiting – considering present employees as candidates for job openings  External recruiting – attracting people outside the organization to apply for jobs o The old-fashioned job fair has survived in spite of internet career postings and the proliferation of employment agencies and head-hunters o Internships – a short-term paid position where students focus on a specific project Selecting Human Resources  Validation – the process of determining the predictive value of information  General steps in the selection process o Applicants or Resumes  Screening Interview  Ability/Aptitude Test  Reference Checks  Interview with Manager  Medical/Drug/Polygraph (lie detector) Tests  Job Offer DEVELOPING HUMAN RESOURCES  Orientation – the initial acquainting of new employees with the company’s policies and programs, personnel with whom they will interact, and the nature of the job o Poor orientation can result in  Disenchantment  Dissatisfaction  Anxiety  Turnover  Other employee problems o But effective orientation can  Play a key role in job satisfaction, performance and retention  Help newcomers feel like part of a team  Introduce them quickly to co-workers, supervisors and other new employees  In a variety of other ways ease the transition from outsider to insider  Training and Development o The starting point in assessing training and development needs is conducting a needs analysis – determining the organization’s true needs and the training programs necessary to meet them o This analysis generally focuses on two things:  The organizations job-related needs  The capabilities of the current workforce o Work-based programs – a technique that ties training and development activities directly to task performance  On-the-job training – those development programs which employees gain new skills while performing them at work  Systematic job rotations and transfers – a technique in which an employee is systemically rotated or transferred from one job to another o Instructional-based programs – training workers through the use of classroom-based programs such as the lecture approach  Lecture or discussion approach – an instructional-based program in which a trainer presents material in a description fashion to those attending a trainee program  Off-the-job training – those development programs in which employees learn new skills at a location away from the normal work site o Team Building and Group-Based Training  Also increasingly popular in recent years are various team-building and group- based methods of training EVALUATING EMPLOYEE PERFORMANCE  Performance appraisal – a formal program for evaluating how well an employee is performing the job; helps managers to determine how effective they are in recruiting and selecting employees The Performance Appraisal Process  Conducting the Performance Appraisal o The individual’
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